What happens if I pay a chargeoff

Hi all- What happens if I pay the OC on a chargeoff? Does this delete it off the report? My report says Amereagleoutft/MBGA/GEMB (not sure what the MBGA/GEMB is but the OC is American Eagle Outfitters) So if I pay this-would it come off my report? Thanks.

Re: What happens if I pay a chargeoff

So would I PFD them same as I would a regular collection? It is in SOL and is not set to fall off the report until 11/2014-so needless to say I would like to do something about it before then. I just didn't know what the process was for a charge off. So I should try to PFD them then?

Re: What happens if I pay a chargeoff

Yes you can ask for a PFD. They can say no. If they do say no they would have to update as paid charge off. If it is from the OC then paying it could gain some points because it will not be counted in your utilization any longer.

Re: What happens if I pay a chargeoff

Some points would be GREAT right now.. I am going to PFD them and see what happens. So quick question-even though it was charged off- it was a credit card so it still counts toward my utilization? I want to make sure I have that right!

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